Commodities March 9, 2026

Trump Says He Spoke with Putin About Ukraine and the Iran Conflict

President describes the call as constructive and says Putin signalled a willingness to help resolve tensions in the Middle East

By Priya Menon
Trump Says He Spoke with Putin About Ukraine and the Iran Conflict

Speaking at a press event at his Florida golf club, the U.S. president said he had a "very good call" with Russian President Vladimir Putin about the war in Ukraine and the conflict involving Iran. Trump quoted Putin as wanting to be "helpful" on Iran and urged that resolving the Russia-Ukraine war would be a way to assist. A foreign policy aide to Putin said the Russian leader proposed a "quick political and diplomatic end to the Iranian conflict."

Key Points

  • President Donald Trump said he had a "very good call" with Russian President Vladimir Putin that covered Ukraine and the Middle East.
  • Trump quoted Putin as saying he "wants to be helpful" on the Iran conflict and recounted urging that ending the Ukraine-Russia war would be a way to assist.
  • A foreign policy aide to Putin said Putin put forward an idea for a "quick political and diplomatic end to the Iranian conflict." - Sectors potentially affected include defense and energy, as shifts in geopolitical tensions can influence military procurement and energy markets.

DORAL, Florida, March 9 - President Donald Trump told reporters on Monday that he had a "very good call" with Russian President Vladimir Putin that covered the war in Ukraine and the conflict in the Middle East.

Speaking at a press conference at his Florida golf club, Trump described the exchange as constructive and said he discussed both theatres directly with Putin. "There’s tremendous hatred between President Putin and (Ukraine’s) President Zelenskiy. They can’t seem to get it together, but I think it was a positive call on that subject," he said.

On the Iran-related fighting, Trump said Putin "wants to be helpful." He added that he had suggested a way for Russia to be of greater assistance. "I said, 'You could be more helpful by getting the Ukraine-Russia war over with. That will be more helpful,'" Trump told reporters.

Separately, a foreign policy aide to Putin said on Monday that the Russian leader had proposed an idea for a "quick political and diplomatic end to the Iranian conflict." The aide's statement links to the remarks Trump attributed to Putin but does not provide further detail on any specific steps or timelines.

Trump has recently voiced frustration with the continuing confrontation between Russia and Ukraine, which the president characterized as having persisted for more than four years. His comments on Monday framed the Ukraine war and the Iran-related hostilities as interconnected topics raised during the phone call with Putin.

Beyond the direct quotations and the aide's brief description of Putin's proposal, the public record of the conversation provided by the president and the aide contains limited detail on the substance of any proposals or commitments. The remarks shed light on the fact of the discussion and the positions as portrayed by those relaying it, but do not include specifics about follow-up actions or diplomatic arrangements.

In short, the president described a positive telephone discussion with Russia's leader that touched on both the long-running Russia-Ukraine conflict and tensions involving Iran, and a Putin aide characterized a proposal aimed at a swift political and diplomatic resolution to the Iranian situation.

Risks

  • Uncertainty over whether Putin's proposed idea for a "quick political and diplomatic end" to the Iranian conflict will lead to concrete action - this creates ambiguity for defense and energy market participants.
  • No clear, detailed outcomes from the call have been disclosed; the lack of specific follow-up measures or timelines raises the risk that expectations about de-escalation could prove premature—affecting defense suppliers and commodity-sensitive sectors.
  • Ongoing hostility between Russian and Ukrainian leadership, described by the president as "tremendous hatred," suggests the continuation of strategic uncertainty that may influence defense spending and related supply chains.

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